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February 1, 2025, 03:46 PM - 4 min read
Finance Minister Nirmala Sitharaman has proposed raising the tax collection targets for FY26, aiming for ₹42.70 lakh crore in gross tax revenue, up 11% from FY25. Direct taxes are set to rise to ₹25.20 lakh crore, while indirect taxes will increase to ₹17.50 lakh crore. Despite offering tax relief for the middle class, the government expects higher collections from income and corporate taxes.
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April 1, 2024, 10:56 AM - 2 min read
April 1 initiates FY2024-25, introducing revised Union Budget regulations for income tax alongside Finance Minister Nirmala Sitharaman's FY25 interim Budget. Here's a summary of key updates on tax, NPS, EPFO, insurance, and mutual funds.
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March 20, 2024, 03:06 PM - 2 min read
The net direct tax collection of Rs 18,90,259 crore as on March 17, 2024, includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
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March 20, 2024, 02:58 PM - 2 min read
The Net Direct Tax collection of Rs 18,90,259 crore as of March 17 includes Corporation Tax at Rs 9,14,469 crore (net of refund) and Personal Income Tax including securities transaction tax (STT) at Rs 9,72,224 crore (net of refund).
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February 1, 2024, 12:38 PM - 2 min read
Presenting the interim Budget 2024-25, Sitharaman said tax receipts for 2024-25 projected is projected at Rs 26.02 lakh crore. She informed that the fiscal deficit in FY24 is expected at 5.8 per cent of GDP, down from 5.9 per cent estimated earlier. And no changes in tax rates for direct and indirect taxes, including import duties.
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